Tuesday, January 31, 2023

Dow closes in the red: Bad banking is hurting investor sentiment

Besides slowing economic growth in China, quarterly results from major US banks worried stockbrokers. Goldman Sachs’ track record has been particularly poor, so the financial institution’s momentum is on the downhill. Meanwhile, the big winner is Tesla.

Disappointing quarterly results from major US banks and economic data from China shook investor confidence on Wall Street. dow jones index The record value fell 1.14 percent to 33,911.22 points. To all Standard & Poor’s 500 It fell 0.2 percent to 3,990.95 points. technology exchange index nasdaq It increased by 0.14 percent to 11,095.11 jobs.

“Goldman Sachs’ quarterly results were worse than expected,” said Octavio Marenzi, an analyst at Obamas. Morgan Stanley, on the other hand, has been very much in line with expectations. Slowing economic growth and Chinese profit-taking after a rally at the start of the year also contributed to the gloomy mood, according to Peter Cardillo, economist at investment advisor Spartan Capital Securities.

Morgan Stanley 97.08

The now-sharp inversion of the three-month and two-month Treasury yield curves, meanwhile, signals an impending bearish market, according to CMC Markets broker Konstantin Oldenberger. Meanwhile, the market expects interest rates to rise further. Rates will go up. Federal Reserve Coup. Other central banks will soon cut rates.

“Investors expect a sharp slowdown in inflation and a possible recession. Therefore, sentiment on the economy remains bearish. Now the rest of the reporting season should show how companies view the future. For example, Netflix’s financial report Thursday is expected to come as the first test of the mood of the tech industry.

Losing Chinese Corporate Papers

Oil prices were boosted by predictions from the OPEC+ oil union that demand from China should pick up again this year after an initial slump. North Sea Diversity Brent It rose one percent to $86.77 per barrel (159 litres). light american variety its It rose 1.6 percent to $81.14.

share Goldman Sachs It fell 6.45 percent to $349.86. the one who Morgan Stanley However, it rose 5.84 percent to $97.01, its highest level in almost a year. At the same time, disappointing GDP in China affected the prices of Chinese companies listed in the US. Alibaba, JD.comwhy baidu He suffered a loss of up to six percent. Meanwhile, fresh sales data from China helped TeslaTop Stocks on the Nasdaq. Shares of the volatile electric car maker rose 7.42 percent to $131.48, their highest level in four weeks.

According to a report by China Merchants International, China sales rose to 12,654 vehicles between January 9 and 15 due to price cuts on Tesla’s best-selling models. This shows an increase of 76 per cent over the same period last year. Growing demand in Europe has provided suppliers to the US solar industry stage Bolsters stock rose 2.13 percent to $251.06. The company said that recently, manufacturers of Enphase products in the Netherlands have seen an increase in orders for residential solar power systems. He initially did not give specific numbers.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here